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Tag: Autonomy

November 21, 2012 | 10:39 am

HP Says Fraud Prompted $5B Overpayment

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NEW YORK (AP) Hewlett-Packard Co. said on Tuesday that it’s the victim of a multi-billion dollar fraud at the hands of a British company it bought last year that lied about its finances.

HP CEO Meg Whitman said executives at Autonomy Corporation PLC “willfully” boosted the company’s figures through various accounting tricks, which convinced HP to pay $9.7 billion for the company in October 2011.

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